Ritholtz Wealth Management Buys 5,510 Shares of ConocoPhillips (NYSE:COP)

Ritholtz Wealth Management increased its holdings in shares of ConocoPhillips (NYSE:COP) by 70.0% during the first quarter, Holdings Channel reports. The fund owned 13,385 shares of the energy producer’s stock after purchasing an additional 5,510 shares during the period. Ritholtz Wealth Management’s holdings in ConocoPhillips were worth $709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Lee Danner & Bass Inc. grew its position in ConocoPhillips by 3.7% during the 1st quarter. Lee Danner & Bass Inc. now owns 5,296 shares of the energy producer’s stock worth $281,000 after acquiring an additional 189 shares during the last quarter. Grandview Asset Management LLC bought a new stake in ConocoPhillips during the 1st quarter worth approximately $37,000. Carnegie Capital Asset Management LLC grew its position in ConocoPhillips by 4.0% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 5,301 shares of the energy producer’s stock worth $281,000 after acquiring an additional 206 shares during the last quarter. Cannell Peter B & Co. Inc. grew its position in ConocoPhillips by 1.8% during the 4th quarter. Cannell Peter B & Co. Inc. now owns 11,926 shares of the energy producer’s stock worth $477,000 after acquiring an additional 213 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its position in ConocoPhillips by 1.3% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 16,827 shares of the energy producer’s stock worth $891,000 after acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

A number of equities research analysts recently commented on the company. Zacks Investment Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research report on Tuesday, April 27th. Truist Financial upped their price objective on ConocoPhillips from $50.00 to $60.00 in a report on Monday, April 19th. KeyCorp upped their price objective on ConocoPhillips from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Securities upped their price objective on ConocoPhillips from $50.00 to $60.00 in a report on Monday, April 19th. Finally, Mizuho upped their price objective on ConocoPhillips from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, May 17th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and a consensus target price of $60.81.

Shares of ConocoPhillips stock opened at $60.17 on Friday. The firm has a market cap of $81.19 billion, a P/E ratio of -401.11, a PEG ratio of 3.58 and a beta of 1.75. ConocoPhillips has a 12 month low of $27.53 and a 12 month high of $61.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.03 and a quick ratio of 1.88. The business’s fifty day simple moving average is $54.47.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, May 4th. The energy producer reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.12. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $7.73 billion. ConocoPhillips had a negative return on equity of 1.85% and a net margin of 0.08%. During the same quarter last year, the business posted $0.45 EPS. Equities research analysts predict that ConocoPhillips will post 3.34 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Thursday, May 13th. ConocoPhillips’s payout ratio is presently -177.32%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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